Shares of Momo Inc (NASDAQ:MOMO) shot up 0% on Monday . The company traded as high as $35.87 and last traded at $35.75. 17,958,400 shares changed hands during mid-day trading, an increase of 225% from the average session volume of 5,528,314 shares. The stock had previously closed at $35.75.
A number of research firms have weighed in on MOMO. BidaskClub upgraded Momo from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Zacks Investment Research upgraded Momo from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Citigroup assumed coverage on Momo in a research report on Tuesday, February 20th. They set a “buy” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. raised Momo from a “neutral” rating to an “overweight” rating in a research report on Friday, January 26th. Finally, Jefferies Group reissued a “buy” rating and set a $45.00 price target on shares of Momo in a research report on Wednesday, January 24th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Momo presently has an average rating of “Buy” and a consensus target price of $41.55.
The stock has a market capitalization of $6,650.00, a PE ratio of 22.78 and a beta of 1.79.
Institutional investors and hedge funds have recently bought and sold shares of the company. Rational Advisors LLC boosted its position in Momo by 108.7% during the third quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 2,500 shares in the last quarter. Castleark Management LLC bought a new stake in Momo during the fourth quarter valued at about $144,000. Benjamin F. Edwards & Company Inc. boosted its position in Momo by 213.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the information services provider’s stock valued at $184,000 after purchasing an additional 5,125 shares in the last quarter. Caxton Associates LP bought a new stake in Momo during the third quarter valued at about $254,000. Finally, Royal Bank of Canada boosted its position in Momo by 63.8% during the second quarter. Royal Bank of Canada now owns 8,332 shares of the information services provider’s stock valued at $308,000 after purchasing an additional 3,246 shares in the last quarter. 38.11% of the stock is currently owned by institutional investors and hedge funds.
Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company’s Momo platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform.
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